Shell Posts a Big Increase in Chemical Earnings

6:06 AM MST | February 3, 2011 | Ian Young

Shell's chemicals business achieved a 77% increase in earnings on a current cost of supplies basis in the fourth quarter of 2010 compared with the corresponding period of 2009, to $493 million. Sales were not disclosed but Shell's chemical sales volumes increased 10% year on year in the fourth quarter, to 5.3 million m.t. The results reflect "improved realized chemicals margins, higher chemical sales volumes, higher income from equity-accounted investments, and lower operating expenses," Shell says. Sales volumes rose mainly because of the start-up of...